Forex: EUR/USD unchanged around 1.3000

Wed, Jul 28 2010, 23:14 GMT
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FXstreet.com (Buenos Aires) – EUR/USD Current price: 1.2987. Day went away and Euro did not noticed: trapped in a small range, technically the consolidative range extended this Wednesday, with the pair trapped in between 1.3045 past Asian session high, and 1.2960 as base; a daily ascendant trend line coming from early July low around 1.2540, now lies around 1.2900, so that’s probably the risk level to the downside of the pair, will mentioned 1.3045 highs, where pair seem to have draw a double roof, is the risk break bullish level.

Indicators remain flat both in 1 and 4 hours charts, giving no clear bias, and despite some risk aversion floats above markets, pair seems also insensitive to that. “Expect range to extend during current Asian session, while if a break should take place will be nearby European opening,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.2960 1.2935 1.2910. Resistance levels: 1.3015 1.3050 1.3100.

EUR/USD

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